Rs 1,762 Crore Order Book: President of India Backed Defense Company Announced Rs 0.75 per share Dividend; Record Date Set for 25th March 2025
As of 19 March 2025, shares of this PSU stock surged over 8 per cent Rs 284 per share from its previous closing.
Mishra Dhatu Nigam Limited (MIDHANI) has announced an interim dividend of Rs 0.75 per equity share for the financial year 2024-25, as approved by its Board of Directors on 19th March 2025. This announcement is significant for investors as it reflects the company's financial health and its commitment to returning value to shareholders.
The record date for determining the entitlement to this interim dividend is set for 25th March 2025. MIDHANI, a prominent player in the defence and strategic sectors, manufactures a range of high-value special steels, superalloys, and titanium alloys. The company has been instrumental in supporting India's defence and space programs by supplying critical materials for various applications.
With a strong order book of approximately Rs 1,762 crore as of Q3 FY24, MIDHANI continues to focus on expanding its manufacturing capabilities and developing new products. The recent dividend declaration underscores MIDHANI's stable financial performance and its strategic importance in the defence sector.
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As of 19 March 2025, shares of this PSU stock surged over 8 per cent Rs 284 per share from its previous closing. The stock is trading near its 52-week low, with the 52-week high at Rs 526.1 and the 52-week low at Rs 233.6, indicating a potential opportunity for investors to consider.
Mishra Dhatu Nigam Ltd (MIDHANI) is a key player in the production of special metals and alloys, primarily serving the defence, space, and energy sectors. Established in 1973 as a Government of India enterprise, MIDHANI is the sole manufacturer of titanium alloys in India. The company boasts a diverse product portfolio, including superalloys, special steels, and titanium alloys, with significant contributions to India's strategic sectors. MIDHANI's manufacturing capabilities are supported by two facilities located in Hyderabad and Rohtak, focusing on high-value specialty steel and armour products.
The company is actively expanding its operations, with new projects and a substantial capex plan of Rs 300-400 crore over the medium term. MIDHANI's robust order book and ongoing product innovation highlight its strategic importance and growth potential in the Indian market.
MIDHANI has a market capitalisation of Rs 4,918.61 crore. The stock has delivered a 1-year return of -28.27 per cent, but a 3-year return of 55.4 per cent, indicating long-term growth potential. The company's PE ratio stands at 47.76.
Investors must keep this Large-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.